Market Research Report

Saudi Arabia Power Rental Market Research Report: Forecast (2022-27)

By Type (Diesel Generator, Gas Generator), By Capacity (Up to 100 KVA (100.1 KVA-350 KVA, 350.1-750 KVA, 750.1-1000KVA), Above 1000 KVA), By Application (Power Utilities, Oil & Gas..., Construction, Mining), By Region (North, East, South, Central), By Competitors (Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental, Rental Solutions & Services, Nour Energy Co. Ltd., Smart Energy Solutions) Read more

  • Energy
  • Mar 2022
  • 129
  • EN44015

Power rental services deliver an uninterrupted energy supply to consumers and are ideal across remote areas with limited access to power. These services come in handy mainly when there is transmission disconnection, grid failure, & power outage, among others. Industries like mining, construction, manufacturing, etc., are the prominent consumers of power rental services across Saudi Arabia.

Market Insights

The Saudi Arabia Power Rental Market is projected to grow at around 12% CAGR during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven by the rapidly increasing construction activities in Saudi Arabia, owing to the growing government focus on infrastructural developments for economic diversification, i.e., propelling the demand for interrupted power supply for various operations at sites. It, in turn, is soaring the need for power supply on a rental basis and driving the market across Saudi Arabia.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 12%
Key Companies Profiled Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental, Rental Solutions & Services, Nour Energy Co. Ltd., Smart Energy Solutions
Unit Denominations USD Million/Billion

 

Additionally, escalating tourism and a growing number of hotels & resorts are also surging the demand for power rental services for several day-to-day operations. Besides, the increasing establishment of multinational companies is also stimulating the construction activities in the country and, in turn, fueling the demand for power rental services. 

Moreover, massive government support through various initiatives & strategic frameworks like Saudi Vision 2030 to transform the country's economy is another crucial aspect anticipated to generate lucrative growth opportunities for the leading players in the Saudi Arabia Power Rental Market during the forecast period. For instance:

  • In April 2020, the Ministry of Industry & Mineral Resources of Saudi Arabia assigned several mining reserves across regions like Ha'il, Riyadh, Asir, Makkah, Najran, & Madinah to boost the entire energy industry under Vision 2030.

In addition, the presence of natural resources like oil & gas entwined with growing mining activities in the country are also expanding the potential for power rental services & boosting the overall market. Furthermore, the massive funding for the exploration & production of reservoirs is another vital factor displaying substantial potential for the leading market players through 2027.


Saudi Arabia Power Rental Market Research Report: Forecast (2022-27)

Impact of Covid-19 on the Saudi Arabia Power Rental Market

The advent of Covid-19 in 2020 had a decelerating effect on most industries, where the Saudi Arabia Power Rental Market was no exception. With the imposition of stringent movement restrictions & lockdown by the government to curb the spread of this dreadful disease, the market underwent several unprecedented challenges.

Corporate sectors had to make a paradigm shift to work from home policies, and the manufacturing, mining, and other sectors temporarily halted their operations to reduce & eliminate the virus spread among workers. As a result, the demand for power rental services witnessed a decline and caused massive financial losses to the leading players in the market. However, on the other hand, the market witnessed a temporary hike through construction activities across the country, which sought the demand for power rental services.

Nonetheless, with the declining number of Covid-19 cases, the government uplifted the restrictions & allowed the recommencement of business operations. With this, the leading players in the market resumed offering services across end-user industries. Currently, the market is expanding well and on its path to recover from financial losses caused amidst the pandemic.

Market Segmentation

Based on the Application:

  • Power Utilities
  • Oil & Gas
  • Construction
  • Mining

Amongst all, the Construction application dominated the Saudi Arabia Power Rental Market in recent years, and the same trend is likely during the forecast period. It attributes principally to the growing government focus on infrastructure developments, i.e., projecting an extensive construction of airports, highways, roads, hotels, shopping complexes, residential buildings, etc., and, in turn, propelling the demand for power rental services for uninterrupted energy supply required in construction operations.

Besides, the escalating construction of new buildings across the commercial & residential sectors are also anticipated to display the maximum consumption of power rental services & augment the overall market growth through 2027. Moreover, the rapidly expanding tourism is another prominent aspect positively influencing the demand for power rental services to suffice the energy requirements of the hospitality sector. For instance:

  • In 2019, Hilton and Shomoul Holding Co. were awarded a contract to construct new hotels, conference halls, exhibition spaces, residential apartments, medical facilities, and offices in Riyadh. The project is anticipated to complete by 2023 and augment the demand for power rental services, which, in turn, would drive the Saudi Arabia Power Rental Market.

Based on the Type:

Here, Diesel Generators acquired the largest market share in recent years. It owes principally to the rapidly growing demand for power rental services across the off-grid & remote areas in the country entwined with the growing ease of access to fuel. Besides, easy portability for power rental through diesel generators is also playing a crucial role in boosting the demand for these services and augmenting the overall market growth.

Moreover, the mounting inclination of the Saudi government on diversifying the economy away from oil & gas under their strategic Vision 2030 is another crucial aspect displaying an increasing number of construction projects across the country. It, in turn, is boosting the demand for diesel generators on a rental basis to deliver an uninterrupted power flow.

Key Questions Answered in the Market Research Report:

  1. What are the key overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Saudi Arabia Power Rental Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Saudi Arabia Power Rental Market? 
  4. Who are the key competitors or market players, their strengths & weaknesses, and how do they perform in the Saudi Arabia Power Rental Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Saudi Arabia Power Rental Market study?

Frequently Asked Questions

   A. The Saudi Arabia Power Rental Market is projected to grow at around 12% CAGR during 2022-27.

   A. The Construction sector is projected to emerge as areas of remunerative opportunities for the leading players in the Saudi Arabia Power Rental Market through 2027.

   A. The escalating number of mining & construction projects across Saudi Arabia is the key growth opportunity for the leading players in the Saudi Arabia Power Rental Market to deliver power rental services across the country & drive the market during the forecast period.

   A. In the coming years, the leading players in the Saudi Arabia Power Rental Market are anticipated to increase their power supply capabilities in the country through mediums like diesel & gas generators and augment the overall market growth.

1.     Introduction

1.1.   Research Process

1.2.   Assumption

1.3.   Market Segmentation

1.4.   Market Definition

2.     Executive Summary

3.     Saudi Arabia Macroeconomic Outlook

4.     Saudi Arabia Diesel Generator Industry, Customer Survey

4.1.   Customer Priorities

4.2.   Expectations from Vendors

4.3.   Brand Awareness

4.4.   Price Neutrality

4.5.   Current Brand Satisfaction Level

4.6.   Plan to Opt for Power Rental Equipment in Future

5.     Saudi Arabia Power Rental Market Outlook, 2017-2027F

5.1.   Market Size & Analysis

5.1.1. Market Revenues

5.2.   Market Share & Analysis

5.2.1. By Type

5.2.1.1. Diesel Generator

5.2.1.2. Gas generator

5.2.2. By Capacity

5.2.2.1. Up to 100 KVA

5.2.2.2. 100.1 KVA-350 KVA

5.2.2.3. 350.1-750 KVA

5.2.2.4. 750.1-1000KVA

5.2.2.5. Above 1000 KVA

5.2.3. By Application

5.2.3.1. Power Utilities

5.2.3.2. Oil & Gas

5.2.3.3. Construction

5.2.3.4. Mining

5.2.3.5. Others

5.2.4. By Region

5.2.4.1. East

5.2.4.2. North

5.2.4.3. South

5.2.4.4. Central

5.2.5. By Company

5.2.5.1. Competitor Wise Revenue Share

5.2.5.2. Strategic Factorial Indexing

5.2.5.3. Competitor Placement on MarkNtel Quadrant

6.     Saudi Arabia Diesel Upto 100 KVA Generator Rental Market Outlook, 2017-2027F

6.1.   Market Size & Analysis

6.1.1. Market Revenues

6.2.   Market Share & Analysis

6.2.1. By Type

6.2.2. By Application

6.2.3. By Region

7.     Saudi Arabia Diesel 350.1 KVA to 750 KVA Generator Rental Market Outlook, 2017-2027F

7.1.   Market Size & Analysis

7.1.1. Market Revenues

7.2.   Market Share & Analysis

7.2.1. By Type

7.2.2. By Application

7.2.3. By Region

8.     Saudi Arabia Diesel Above 1,000 KVA Generator Rental Market Outlook, 2017-2027F

8.1.   Market Size & Analysis

8.1.1. Market Revenues

8.2.   Market Share & Analysis

8.2.1. By Type

8.2.2. By Application

8.2.3. By Region

9.    Saudi Arabia Power Rental Market Trends & Developments

10.  Saudi Arabia Power Rental Policy & Regulations

11.  Saudi Arabia Power Rental Market Dynamics

11.1.Impact Analysis

11.2.Drivers

11.3.Challenges

12.  Saudi Arabia Power Rental Market Pricing Analysis

13.  Competitive Benchmarking

13.1.Competition Matrix

13.1.1.   Competitor Capabilities

13.1.2.   Target Markets

13.1.3.   Target End Users

13.1.4.   Strategic Alliances or Partnerships

13.1.5.   Strategic Initiatives

13.2.Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/Partnerships, Future Plans)

13.2.1.   Al-Futtaim Auto Machinery Co.

13.2.2.   Aggreko

13.2.3.   Byrne Equipment Rental

13.2.4.   Cummins

13.2.5.   Energy Equipment Rental Co.

13.2.6.   Hertz Dayim Equipment Rental

13.2.7.   Peax Equipment Rental

13.2.8.   Rental Solutions & Services

13.2.9.   Nour Energy Co. Ltd.

13.2.10.  Smart Energy Solutions

14.  Disclaimer


Saudi Arabia Power Rental Market Segmentation